Maponya’s heirs go to war over mogul’s R1bn fortune
Tycoon’s children and grandchildren dispute their share of the loot
A bitter war over the more than R1-billion estate of legendary business mogul Richard Maponya has erupted among his children and grandchildren – with high court action being mooted by one of the aggrieved parties.
Maponya, whose business empire include the R650-million Maponya Mall in Soweto, died two years ago at the age of 99.
He bequeathed his assets to all his 10 children, who include Miade and Godfrey, who were born of his first wife, and Oupa and Motlalepule, who were conceived from his previous partner. The rest – Sisi, Roy, Mabotse, Chi-chi, Solly and Boniwe – were born from his legal marriage with his wife Marina.
Sunday World can today reveal that Maponya’s grandchildren, led by Jabulani Hlatshwayo – son of Maponya’s late daughter Maide Maponya-hlatshwayo – have unleashed lawyers on their grandfather’s children who are also the executors of Maponya’s estate. They accuse them of sidelining them from the affairs of the estate. They also claim that Maide was muscled out of the farm that was bequeathed to her by the late businessman. The executors consist of Godfrey, Chi-chi, Solly, Boniwe and chartered accountant David Alan Nathan of Grant Thornton, as well as Don Basildon Allaway of Edward Nathan Sonnenbergs Inc.
According to the will that we have seen, Maponya bequeathed his six properties in Winterveld, which are nestled in a 10 000m2 piece of land, to all his children.
Maedi and Godfrey were awarded a Winterveld chicken farm business – called Maponya Poultry Farm – in equal shares while Solly, Roy and Oupa were each granted one property, respectively.
Maponya also gave his other properties in equal shares to his daughters, Maide, Chi-chi, Sisi, Motlalepula, Mabotsi and Boniwe. He ordered that the sixth property should form part of the residue of his estate.
The magnate also donated his Omega watch, signet rings and the Maponya family home (in Soweto) and all its valuables to Solly, who had been living there since the tycoon moved to Hyde Park.
He also bequeathed his clothes, household goods, furniture and motor vehicles to all his children. He left instructions that all these should be distributed in more or less equal shares by the executors after the sale and transfer of his multi-million residential property in the exclusive Hyde Park suburb.
He also left his gold coin collection to Boniwe, which was kept in a safe deposit in Joburg. Maponya also left Boniwe, Solly and Chichi R2.5-million each while Godfrey became R2-million richer. Maedi and Mabotsi had R1.5-million allocated to each one of them while Oupa, Roy, Sisi and Motlalepula each became R1-million loaded.
The generous business tycoon awarded his 23 grandchildren R50 000 each while R2-million went to Dr Mummy Aphane, R50 000 to his domestic worker (only known as Sylvia) and R100 000 to his liquor store manager Emily Mokgaga.
The astute businessman also gave Maedi 10.8% shares in his business or companies. Godfrey was given 14.4%, Oupa 5.9%, Roy 5.4%, Sisi 5.4%, Motlalepule 5.9%, Mabotse 9% while Chi-chi, Solly and Boniwe were each allocated 14.4%.
The businesses include his first shopping centre in Dube, Soweto, which is currently let to Checkers as its primary tenant. “My Shell service station in Zondi, Soweto, my BP service station situated in Orlando East, Soweto. I specifically record that this does not include the adjoining immovable property in Mncube Drive, Soweto, which went into a joint venture with Barloworld. My other retail supermarket in Naledi, Soweto, currently let to Shoprite Checkers,” reads the will.
His empire also includes his listed share portfolio consisting of Sasol, Telkom, Pioneer and Builder’s Warehouse, cash in the bank and other bank investments and his Molapo village property in Soweto. Maponya also recorded that his portfolio includes shares held in his name or shareholding in Maponya Motors Property Holdings (Proprietary) Limited.
“In connection with this company, I record that it is my wish, but not my direction, that those of my children who inherit 14.4% each of my shares in this company form a holding company to hold their shares so that they speak with one voice, and they should have a shareholders agreement in that holding company and the holding company should have a shareholder’s agreement with my remaining children who inherit shares.”
Speaking to Sunday World, a family member who did not want to be named, said the fallout between Maide and her siblings started when she was invited to a meeting on February 7 where Maponya’s will was read. “When they were reading the will, she learnt that the farm, which is supplying a lot of supermarkets with eggs, was given to her because she started it with him,” said the family member.
“After the reading of the will, a group of white males arrived on the farm and fenced off the house she was living in from the farm after rejecting their suggestion to lease it out. Maide’s health was affected by this, and she moved to her house in Soshanguve where she deteriorated and died,” said the family member.
She had written a letter to the deputy master of high court in Joburg questioning why she was being muscled out of the farm. Maedi also said the business was contracted to Rosegro without involving her in the contractual discussions.
“My residential area which I reside in was demarcated and surveillance cameras installed without my permission,” reads the letter.
Since her death, according to a family member, the executors appointed themselves as directors of the farm. The relative alleged that Jabulani and his lawyers met the executors of the estate and Deputy Master of the Joburg High Court Bennard Aphane, but the meeting almost degenerated into an ugly affair.
“The executors told Aphane where to get off. This is frustrating for Jabulani because the file in court has no inventory or bank statement. It is virtually empty.”
“Jabulani was now preparing to go to the high court to challenge the executors to be transparent with him as he is the executor of his mother’s estate.
Boniwe declined to comment and said she had no idea what we’re talking about while Godfrey said they would convene a meeting and then respond.